Choosing the Right Credit Card
Canadian credit cards come with all sorts of perks depending on the card, some of which include numerous travel insurance benefits. If you’re trying to determine which credit card contains the best travel insurance, it depends largely on understanding your travel coverage needs.
If you’re planning a trip or looking to get a new credit card, this tool will help you determine if you’re covered for travel insurance, what exactly you’re covered for, and whether or not you need to purchase additional travel insurance to ensure your trip (or any future trip) is worry free.
Hot tip: Travel insurance offered through credit cards only applies to purchases booked on that credit card.
When we think of travel insurance, we tend to think of emergency medical travel insurance, but that’s just one of the many types of travel insurance available. Each type of travel insurance has its purpose, and some cards may cover one or two types, but not the others.
Always carefully review your credit card and travel insurance policies to ensure you fully understand the depth of your coverage and any existing limitations.
If your cards do not have the type of coverage you’re looking for, you can purchase top up travel insurance to ensure you have everything you need. Purchase travel insurance here.
Or, explore the different types of travel insurance available on various credit cards through the credit card travel insurance comparison tool.
|Type of credit card travel insurance||What it covers||Tips:|
|Trip Interruption Insurance||Reimburses you for select expenses in the event unforeseen circumstances interrupt your trip, such as the death of a loved one forcing you to come home early.||Review your policy in detail to understand exactly what you’re covered for.|
|Trip Cancellation Insurance||Reimburses you for select expenses in the event unforeseen circumstances prevent you from going on your trip, such as falling ill or obtaining an injury.||Read the fine print to understand your policy’s limitations.|
|Travel Medical Protection||Covers emergency medical expenses and related costs incurred abroad.||Check your credit card limit as you may with to purchase additional coverage.|
|Travel Medical for Seniors||Provides emergency medical coverage for seniors travelling abroad.||Coverage may depend on your state of health.|
|Car Rental||Provides car insurance for damages, theft, or loss of use when you pay for a rental car with your credit card.||Note: this does not typically provide third party liability coverage or damages you cause to someone else or their property.|
|Flight Delay||Reimburses you for expenses such as meals, accommodation and other expenses accrued as a result of significant flight delays.||These expenses must be purchased on your credit card.|
|Baggage Delay||Covers expenses for necessary items you need to purchase in the event your baggage is delayed or lost.||These expenses must be purchased on your credit card.|
|Common Carrier Accident||Covers you in the event an accident causes disability or loss of life accrued while travelling on a certified common carrier such as a plane, train, boat or bus.||These excursions must have been booked on your credit card. Other limitations may apply.|
That depends on your credit card, the type of travel insurance coverages it offers, and the limitations of that coverage and its coverage amounts. Typically, higher end and more luxurious credit cards offer more robust coverage than the standard amounts available through common credit cards. Always read your credit card travel insurance coverage carefully, and if it is insufficient be sure to purchase additional travel insurance independently before you travel.
For example, your credit card may offer travel trip cancellation insurance but not emergency medical, or vice versa. In this case, you may only need to purchase coverage for the type of travel insurance not covered by your credit card.
No, you don’t need to buy travel insurance before booking, but you do need to purchase a policy prior to departure.
For your credit card to cover eligible travel purchase, you must have made those purchases on that card. For example, if your credit card covers trip cancellation insurance, that trip must have been purchased on that credit card. Other limitations may apply.
The tool allows you to select credit cards and compare travel insurance covered by the cards. Find out what your credit card coverage includes and how it compares to travel insurance on other credit cards. Additionally, the tool helps you easily identify gaps in your coverage and allows you to explore travel insurance options available through Rates.ca.
The tool is powered by a third-party partner, InsurEye. The information provided in the tool is for informational purposes only and should not be relied upon nor used as a substitute for careful review of insurance policies or consultation with qualified professionals.
The links to purchase travel insurance are not part of the credit card comparison tool. These direct you to Rates.ca’s travel insurance quoter, which is property of Rates.ca. Learn more about travel insurance here.